News from the trenches

Hi All... It's been a few days and I thought you might appreciate an update. Obviously I am not going to reveal any tactical plans but I can give you an overview of what has happened so far.

But before I get to that I want to take a moment to thank the real businesses that have expressed their support for SV as the bitcoin cash of the future. There have been many and whilst I would like it to have been all of them, the ones that are with us are the ones that have a real business model and a viable/sustainable plan for the future. Here at Bitcoin cash (SV) we are not about subsidizing use cases that lack substance and a business case. We are about driving the cash use case. We are about supporting real viable businesses as that is the only way to create a fully viable ecosystem. So thankyou to all for having the strategic vision to understand that a solid, stable, scalable platform gives you a strategic advantage over using a platform that is a plaything subject to change at the whim of developers who want to make the next cool story...

You'll note the propaganda war has been furiously fought by the ABC side. Roger in particular is turning into everything he's preached against for many years. They have downplayed the importance of the rented hash because they had no option but to rent it and had to diffuse that argument.

However our hash will remain for as long as takes. This is a war of attrition and if Roger and Jihan want to burn money paying for mercenary hash then it is their choice to burn it. If they want to allow market confidence to crash by continuing this war it is there choice to do so. We can do this for as long as it takes. We don't want to but there is no other option to preserve the original bitcoin, they are forcing this. It hurts in the short term but in the long term it doesn't matter. It is a value proposition that is overwhelming as long as it isn't corrupted. CTOR and DSV are the archetypal examples of that corruption (as was Segwit). And if we get set back for a time in order to purge those influences then it is regrettable but it is non-optional. Bitcoin will have a chance to be what it was always meant to be and Satoshi's Vision will be realised no matter how hard they fight to suppress it.

We now have an uncontaiminated bitcoin blockchain that can scale. Our team has worked 18 hour days since the fork and they are a truly amazing bunch of people. Among our own devs and some supporting devs that came to support us I have seen some of the most legendary dev skills I've come across in my entire life these last 5 days. Hitting a 64mb block was a big deal for our team last night (and after 4 days hard slog we took the opportunity to have a few celebratory drinks and we all have headaches today). But development progress is exponential. You lay a lot of groundwork before you see the first small result, then each incremental result requires less effort. And we are hitting the steep slope in the progress chart now so what's coming in the next week will be worth watching.

The Teranode (or at least the prototypical first iteration) is born. And it's growing fast. The core validation remains in bitcoin-sv so there is no danger of consensus fuckups. But the real perfomance hurdles are being addresses in ways no other implementation team has ever tried. I've been frustrated for the last year that I've been too busy organising dev teams to actually write any code myself but Teranode is my baby and at long last I've had a chance to start coding myself. Then next iteration or Teranode is "coming soon" (tm)... And when it comes we'll shake some foundations. Don't expect loud announcements... You'll just see bigger blocks. The one thing I've learned in recent months is that social media doesn't matter. It's just results that matter. So I will ignore it and just get on with the job as I usually do (except when I get a bit tipsy and go on a twitter rampage :) )...

Before I sign off I just want to acknowledge the amazing people that are working with me. Daniel of course who is a silent achiever and just gets shit done without making a fuss.... And all the others who remain nameless because they just want to do the work... I love you all. We have some of the smartest people on the planet working silently behind the scenes. Many people in the bitcoin space are used to being the smartest person in the room most of the time. When I walk into the nChain office I have to acknowledge that's no longer the case. It's a blow to the ego but once you get over that it's an absolute privelige to be constantly taught and lifted up by your peers. And there is no place I'd rather be than working with the nChain team to change the world.

Thanks Steve!! You are all doing a great job. It's thrilling to build a new kind of ecosystem together. I'm sure your baby will be a monster very soon! :) Best regards to you, Daniel and the rest of the team.

Dude, awesome. I love that you guys have laser focus on what matters, and don't get distracted by all the BS on social media. I'm frankly dumbfounded at how some communities can rally around the white paper, viciously defending it, only to then turn around and completely circumvent the very Nakamoto Consensus mechanism which is the game theoretical innovation that allows any of this to exist.

I'm looking forward to the scaling that you guys are bringing. I also like how you described not only the parallelization of software, but of the processes utilized to develop it. As more decoupling occurs, micro-economic signals can refine and evolve every component in the system.

What a relieve to get a feel for the focused and exciting spirit in SV's headquarters & war chamber. This from one of the many for which there is a lot at stake - (former) BTC 100%.

BTC because it was what BSV now is and even better. Yes I HODL, and purposely did not turn my small fortune into FIAT, because I don't want to jump ship, as I can see an exiting world based on OUR money and not on Rothchilds - right in front of my eyes at arms length.

I don't worry, even if BSV goes to 0 fiat, I will still have my coins and I am convinced that the fiat value will come back. Especially when the expected global crises, which is overdue, happens. I am saving my Bitcoins for that time.

Spot on.. There are forces that will try to push the price to zero. That's because they have the same number of coins we do. If the they try that we won't buy.... We'll let them push the price to zero. Then we might buy. But after that we will have the coin to push it back up. We have just as much (more) than they do... This is a game of chicken and our people have a lot more experience in this game than the other side do... Bring it on...

I hope they do! If it happens I'll be joining the 1 in 100,000 club or better. Does SV have a good place to recommend for people to buy? I been buying BCH on Coinbase but obviously that's not a viable option anymore. Would love to see a REAL Bitcoin exchange where it's just BSV and fiat and nothing else.

I actually hope they will. I will wait with big buy orders too so leave some to me :). I just hope i can move them out quick. Where do you trade? Thanks for your work man. You will be heros down the line. ;)

t after that we will have the coin to push it back up. We have just as much (more) than they do... This is a game of chicken an

Thanks for all your amazing work that you and Nchain team did so far. Much RESPECT!I just have one question, is it safe to buy BSV at the moment or is it better to just wait and see what will come up from the hashwar? Thanks Steve!

It is an evolution of the bitcoin software.... Once you stop arguing about consensus rules and stabilize the protocol a lot of things become possible. There is so much work to do in that area that has been neglected. We have a real team dedicated to that work now. First time ever. I wish we'd done it a year ago but ABC kept promising because they were afraid we would replace them....

I'm so happy to read your report although I don't know you. From my gut I can tell CSW is right in the big picture and long term roadmap, but I always have some doubt whether his teams can deliver what is promised considering his idiosyncratic manner of dealing with people. Your "insider" story has dispelled my remaining doubt. Thank you so much! That makes me really hopeful for the future in this world.

It's really moving knowing that a great team is working hard towards the goal with a clear sense of mission. God bless the team!

I'll be watching closely. It really is a shame how it's panning out at the moment. And enemies being made with all of the vitreol. But I also understand that some things are worth taking a stand for. I'm very excited to now have a clean protocol so full focus can go onto paralellisation / performance etc. And business adoption. Looking forward to it.

Though I already run a BU full node (I'm use to wallet.dat files) - I deactivated ABCs ruleset & switched it to follow SV ruleset before fork activation (I do notice the increase of damand on my server - I'm happy with that! :)).

(BU offers better miner/user friendly experience with generating wallet.dat files; at least for the time being).

Will SVs full node client generate 'wallet.dat' files in the future? & with a similar GUI to that of what we're use too!?

Thanks for your efforts & for your dedication to Bitcoin. That goes for all the great people at nChain that are working to scale BSV & drive enterprise adoption. I look forward to seeing the results in the larger blocks.

Congratulations on the 64MB block yesterday. I saw it on Coin Dance & thought "Wow! That's amazing!" It certainly shows up the Core Devs who said it couldn't be done. Keep up the good work!

Thanks for the post.I appreciate that you have come forward and show the SV side of the debate.

I have a question.Are all op codes from the original implementation now available?Is there any feature that is on your roadmap and would need a hard fork (bigger blocks not included)?Or maybe a soft fork?

Thanks Steve. I noticed in github the pull request for miner redirect is no longer there. Has SV abandoned that strategy? I was concerned that it was "yet more developer medling" and more "useless op codes" that Bitcoin SV is supposed to be protected against

Many people in the bitcoin space are used to being the smartest person in the room most of the time. When I walk into the nChain office I have to acknowledge that's no longer the case. It's a blow to the ego..

Why the fuck do you want to steal BCH’s name and all the work they have done?

If you are really for the good of the community, you will just fork off into a new token and let the market decide, but no, you are holding the entire chain hostage just so you can make an extra penny.

WELL FUCK YOU AND YOUR GOOD INTENTIONS. NO ONE WILL FORGET WHAT YOU DID.